Montello Resources nixes C$1.2 million private placement of units

By Devika Patel

Knoxville, Tenn., Dec. 27 - Montello Resources Ltd. announced it has decided to cancel a C$1.2 million private placement of units.

The company was planning to sell 10 million units at C$0.12 apiece. Each unit would have consisted of one common share and one warrant, exercisable at C$0.25.

Montello is an oil and natural gas company based in Calgary, Alta.

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